What is the purpose of GATT Article III and how is the purpose served?
The existence of GATT Article III generally impedes the adoption of policies and measures aimed at domestic protection, and thus promotes trade liberalization. In addition, regarding tariff concessions, GATT Article II recognizes tariffs have been used as tools for domestic industrial protection.
What is Article 2 of the GATT?
Article II: Schedules of Concessions All trade concessions made by Members must be stated and incorporated into the legal agreement – ‘bound’ rates. No other Member may be treated less favourably than any ‘bound’ rate.
What is the purpose of the national treatment obligation set out in Article III of the GATT 1994?
More specifically, the purpose of Article III “is to ensure that internal measures ‘not be applied to imported or domestic products so as to afford protection to domestic production’”.
What does GATT 1994 consist of?
It is an international treaty binding upon all WTO Members. The GATT 1994 is only concerned with trade in goods. The GATT 1994 aims at further liberalizing trade in goods through the reduction of tariffs and other trade barriers and eliminating discrimination.
What are the principles of GATT?
The Basic Principles of the GATT:
- Most-Favored-Nation (MFN) Treatment: This is the fundamental principle of the GATT and it is not a coincidence that it appears in Article 1 of the GATT 1947.
- Reciprocity: GATT advocates the principles of “rights” and “obligations”.
- Transparency:
- Tariff Binding and Reduction:
How is GATT related to WTO?
The General Agreement on Tariffs and Trade (GATT) covers international trade in goods. The workings of the GATT agreement are the responsibility of the Council for Trade in Goods (Goods Council) which is made up of representatives from all WTO member countries. Again, these committees consist of all member countries.
What is the difference between the GATT 1994 and the GATT 1947?
While GATT no longer exists as an international organization, the GATT agreement lives on. The old text is now called “GATT 1947”. The updated version is called “GATT 1994”. Moreover, GATT’s key principles have been adopted by the agreements on services and intellectual property.
Which provisions of the GATT 1994 prohibit the imposition of customs duties higher than the tariff concession or binding?
Similarly, Article II:1(b) of the GATT 1994 prohibits Members from imposing duties “in excess of” the bound duty rate.
What is the difference between GATT 1947 and GATT 1994?
The GATT 1947 is a defunct international treaty predating the WTO Agreement. The provisions of the GATT 1947, incorporated into the GATT 1994, continue to have legal effect as part of the GATT 1994, itself a component of the WTO Agreement.
What is the purpose of GATT?
The purpose of the General Agreement on Tariffs and Trade (GATT) was to make international trade easier.
What is GATT Slideshare?
GATT The General Agreement on Tariffs and Trade (GATT) was first signed in 1947. Was designed To provide an international forum That encouraged free trade between member states By regulating and reducing tariffs on traded goods Providing a common mechanism for resolving trade disputes.
What is the main purpose of the GATT?
Where does Article 3 of GATT come from?
The history of Article III can be traced to Article 18 of the failed Havana Charter [see end note 2] which sought to create the International Trade Organisation (ITO), and provisions of which were reworked into GATT 1947. Article III, in its present form, has been incorporated into GATT 1994 by way of reference.
What is the national treatment principle of GATT?
National Treatment principle – Analysis of GATT Article III 1 The contracting parties recognize that internal taxes and other internal charges, and laws, regulations and… 2 The products of the territory of any contracting party imported into the territory of any other contracting party… More
Which is the full text of the GATT?
The General Agreement on Tariffs and Trade (GATT 1947) (Article I XVII) This Appendix contains the complete text of the General Agreement together with all the amendments which became effective since its entry into force.
What is the analytical index of GATT 148?
148 ANALYTICAL INDEX OF THE GATT ‘a charge equivalent to an internal tax imposed consistently with the provisions of paragraph 2 of Article III in respect of the like domestic product or in respect of an article from which the imported product has been manufactured or produced in whole or in part’.